There are ups and downs with any real estate investment experience, but the eviction process is probably the hardest thing to deal with.
Landlords who have gone through this know that having a property management company on board from the beginning makes the eviction process much easier.
The biggest reason for evictions is a tenant who is late paying the rent. A property owner has to know the terms of the lease, which states exactly when rent is due, and if there is any grace period.
There are specific guidelines for the eviction process including:
Serving the tenant with a 3-day notice to “Pay or Quit”
How to serve the notice (whether it requires hand-delivery or via certified mail)
How to count the three days (the delivery day does not count, nor do weekends or holidays).
If the tenant will not leave, then you must go to your local court to start legal proceedings. You will be given a court date and will need to have the tenant summoned. When going to court bring any and all documentation to support your claim, including communication between you and the tenants, receipts, bounced checks, a copy of the lease, and proof of the 3-day notice. It may seem like an easy case, but this is where it gets complicated.
In Colorado, courts will decide in favor of the tenant
Since many tenants can’t deny they failed to pay the rent, they try to get out on a technicality. If you failed to complete any part of the eviction process or forgot to “dot an I or cross a T,” the court will decide in favor of the tenant. Then you have to start the process over.
The eviction process is complicated, time-consuming, and extremely stressful. The best thing you can do is partner with a property management company from the start, so there’s no need to panic when it gets to this point. They take care of all the legalities, including signing the lease and collecting the rent. If there is a problem, they know the eviction process and have the proof to go to court and win the eviction.
If you own investment property in the Denver area, contact us or call 720.989.1996 to take advantage of property management services. Legacy Properties-PM has the experience to find quality tenants so you probably won’t have to deal with an eviction in the first place, but if it comes to that, we know exactly how to handle it.
Many Colorado people like you have considered investing in residential real estate, but are not sure they want to deal with all the negative aspects of the job. If we’re being honest, it’s not all fun and games, and there are times you really have to be the bad guy. For that reason alone, many people decide they don’t want to go down that road. If some of these scenarios come to your mind as situations you don’t want to deal with, you’re absolutely correct that they do happen, but there is a solution.
Asking for prospective tenant’s personal information. To make sure you have a responsible renter, you need to ask for information pertaining to credit history, background checks, employment, and even information such as whether the person owes child support.
Collecting rent. In a perfect world, tenants would pay their rent, in full, on time, every month. In case you’re wondering, this isn’t a perfect world.
Enforcing the lease. Whether you suspect a renter has a pet that isn’t allowed, or isn’t keeping the agreed-upon quiet hours, sometimes you have to confront a tenant about these situations.
Maintenance needs. Getting a call in the middle of the night about a clogged toilet or a leaking roof is never fun. Sometimes you have to deal with it, and sometimes you have to determine that the problem is more than just normal wear-and-tear, and let the renters know they are responsible for it.
Evictions. While it hopefully doesn’t happen often, once in a while you might get a bad egg that won’t pay the rent, and won’t leave, which leaves you no choice but to go to court to evict them.
If you are a person who doesn’t like conflict and isn’t very assertive, you may have decided against investing in real estate, but when you hire a property management company, you can let them do the dirty work while you enjoy the benefits of your investment.
In the Aurora area, Legacy Properties-PM takes care of all these situations and more, so there’s no need to worry about it. If you’d like to invest in real estate, but want someone else to take care of these types of tasks, read our Property Management FAQ, call 720 989 1996, or contact us.
A good property management company knows having a great tenant who will keep your property clean and undamaged is very important to you.
Having a great tenant is important to you as a property owner. Legacy Properties can help with your rental properties in and around Denver and Aurora, Colorado.
A Different Type of Property Management Company
Unlike a property management company who will rent your property in Colorado to the first interested tenant, we make sure they are GOOD tenants. We actually search, find and interview your potential tenant’s previous employers and landlords to be sure your new tenant will…
Keep your property in good shape
Keep your property clean
Pay all rents and fees on time
By actually contacting previous employers and landlords, we find out if:
They have good relationship with their previous landlord
They are actually employed by the company they say they are
and most importantly as a Property Management company, we will determine that your new tenants are responsible and mature adults.
Isn’t that the goal with hiring a property management company in the first place?
A simple background check is just not enough. It is helpful to know about arrest warrants and criminal records, but isn’t it important to know about their ability and willingness to pay?
The eviction process is not something you want to go through, and the easiest way to avoid it is to use a pro-active screening for that type of information. By checking with previous landlords, we can see what their relationship was while living there. Doesn’t a good relationship mean they also paid?
An employment check means we are able to determine if they are currently employed as they say they are. We would never place a tenant who did not have the means to pay rent!
You can trust and will feel at ease with Legacy Properties. We are a property management company who will protect your legacy by finding quality tenants for you in Colorado.
